Jazz Pharmaceuticals (NASDAQ:JAZZ) Receives “Overweight” Rating from Piper Sandler

Jazz Pharmaceuticals (NASDAQ:JAZZ)‘s stock had its “overweight” rating reissued by stock analysts at Piper Sandler in a research report issued on Wednesday,Benzinga reports. They presently have a $176.00 target price on the specialty pharmaceutical company’s stock, up from their prior target price of $163.00. Piper Sandler’s price target would suggest a potential upside of 19.90% from the stock’s current price.

JAZZ has been the subject of several other reports. JPMorgan Chase & Co. lifted their target price on Jazz Pharmaceuticals from $200.00 to $209.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Cowen reduced their target price on Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Robert W. Baird raised their price target on shares of Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Morgan Stanley raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $140.00 to $175.00 in a research note on Thursday, December 12th. Finally, Royal Bank of Canada reduced their price objective on shares of Jazz Pharmaceuticals from $179.00 to $178.00 and set an “outperform” rating for the company in a research report on Wednesday. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $181.80.

Jazz Pharmaceuticals Stock Up 5.1 %

Shares of JAZZ traded up $7.13 during mid-day trading on Wednesday, hitting $146.80. 1,330,831 shares of the company’s stock were exchanged, compared to its average volume of 658,309. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46. The firm has a fifty day moving average of $125.42 and a two-hundred day moving average of $118.44. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 1.04 and a beta of 0.56. Jazz Pharmaceuticals has a twelve month low of $99.06 and a twelve month high of $148.06.

Insiders Place Their Bets

In other news, CEO Bruce C. Cozadd sold 1,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $123.43, for a total value of $185,145.00. Following the sale, the chief executive officer now owns 425,525 shares of the company’s stock, valued at approximately $52,522,550.75. This represents a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 5,053 shares of company stock valued at $617,442 over the last ninety days. 4.20% of the stock is owned by insiders.

Institutional Trading of Jazz Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in JAZZ. Fuller & Thaler Asset Management Inc. increased its holdings in Jazz Pharmaceuticals by 117.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 939,351 shares of the specialty pharmaceutical company’s stock valued at $115,681,000 after buying an additional 507,234 shares during the period. Darwin Global Management Ltd. purchased a new stake in Jazz Pharmaceuticals in the fourth quarter valued at about $59,668,000. Dimensional Fund Advisors LP grew its holdings in shares of Jazz Pharmaceuticals by 18.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,035,070 shares of the specialty pharmaceutical company’s stock valued at $250,619,000 after buying an additional 320,724 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Jazz Pharmaceuticals by 20.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,827,658 shares of the specialty pharmaceutical company’s stock worth $225,076,000 after purchasing an additional 315,608 shares during the last quarter. Finally, GMT Capital Corp lifted its position in Jazz Pharmaceuticals by 140.0% during the fourth quarter. GMT Capital Corp now owns 508,800 shares of the specialty pharmaceutical company’s stock valued at $62,659,000 after purchasing an additional 296,800 shares during the period. 89.14% of the stock is currently owned by institutional investors.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.